Dow Futures Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Wednesday fell -0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) was unchanged, and the Nasdaq 100 Index ($IUXX) (QQQ) fell -0.45%.
Stocks on Wednesday settled mostly lower, with the Nasdaq 100 falling to a 3-1/2 week low. Weaker-than-expected Chinese trade news fueled concerns about global growth and weighed on stocks. China Nov exports fell -8.7% y/y, weaker than expectations of -3.9% y/y and the biggest decline in 2-3/4 years. The markets are concerned that the Covid pandemic in China may mushroom as restrictions are eased, thus forcing new economic shutdowns.
Weakness in Apple and its suppliers weighed on technology stocks Wednesday. Apple fell more than -1% after key iPhone supplier Murata Manufacturing said it expects Apple to cut its iPhone 14 production plans further in the coming months because of weak demand.
Bitcoin (^BTCUSD) fell more than -1% Wednesday to a 1-week low, which was... Read more